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California to stop buying GM, Toyota and Fiat Chrysler vehicles over emissions fight

WASHINGTON — California said on Monday it will halt all purchases of new vehicles for state government fleets from GM, Toyota and Fiat Chrysler and other automakers backing President Donald Trump in a battle to strip the state of authority to regulate tailpipe emissions. Between 2016 and 2018, California purchased $58.6 million in vehicles from General Motors, $55.8 million from Fiat Chrysler Automobiles, $10.6 million from Toyota Motor and $9 million from Nissan. Last month, GM, Toyota, Fiat Chrysler and members of the Global Automakers trade association backed the Trump administration's effort to bar California from setting tailpipe standards, which are more rigid than Washington's proposed national standards. The automakers declined or did not immediately comment on California's announced ban on purchases of their vehicles. Starting in January, the state will only buy from automakers that recognize California's legal authority to set emissions standards. Those automakers include Ford, Honda, BMW AG and Volkswagen AG, which struck a deal with California in July to follow revised state vehicle emissions standards. "Car makers that have chosen to be on the wrong side of history will be on the losing end of CaliforniaÂ’s buying power," California Governor Gavin Newsom said in a statement. California purchased $69.2 million in vehicles from Ford over the three-year-period, $565,000 from Honda and none from the German automakers. The state also disclosed it will immediately no longer allow state agencies to buy sedans powered by an internal combustion engine, with exemptions for certain public safety vehicles. California's vehicle rules have been adopted by 13 other states. On Friday, California and 22 other U.S. states challenged the Trump administration's decision to revoke California's legal authority to set vehicle tailpipe emissions rules and require a rising number of zero emission vehicles (ZEV). The move follows a separate lawsuit filed in September by the states against the National Highway Traffic Safety Administration seeking to undo a parallel determination. In August 2018, the Trump administration proposed freezing fuel efficiency requirements at 2020 levels through 2026, reversing planned 5% annual increases. The Trump administrationÂ’s final requirements are expected in the coming months and are set to modestly boost fuel efficiency versus the initial proposal, with several automakers anticipating annual increases of about 1.5%.

Chrysler may be testing a Hellcat 300

Another day goes by, and another mysterious, undisguised SRT prototype comes out of FCA. This time we have a Chrysler 300 SRT that looks nearly stock except for its footwear. Our spy photographer got up close and personal with this machine, and found that it has the same wheels with 315-mm tires that were on the early Dodge Demon prototypes. The only difference is the wheels on this 300 have Chrysler-branded center caps. All that extra width means these wheels stick pretty far out from the wheel wells, which would suggest that any production car running this setup would have flares to cover the wheels. Behind those wheels are four-piston Brembo calipers and slotted discs that looks similar to those on the current 300 SRT. We doubt that Chrysler is building a Demonized version of the 300, but the tires do suggest that this is a much more potent 300 than the current SRT, which was discontinued in the US in 2015 but is still sold in the Middle East and Australia. That's not all we have to go on, though, since our spy photographer says it sounded like it had Hellcat power under the hood. Equipping a 300 with a Hellcat engine would be a breeze, too, since the engine is already in the Charger, which is virtually identical mechanically. What you may be wondering is why Chrysler is adding a Hellcat version of the 300 SRT when that model hasn't been available in the US since 2015. One possible reason is that this would finally allow Aussies access to the 707-horsepower machine. Dodge is not a brand offered Down Under, so it doesn't get the Charger Hellcat, leaving the 300 as the only V8, rear-drive Mopar available. And for the Middle East, if the normal 300 SRT was selling well, it would only make sense to offer another variant. It shouldn't cost Chrysler too much to develop this model either, since the 300, mechanically, is virtually identical to the Charger. Related Video: Featured Gallery Chrysler 300 SRT Hellcat Widebody Spy Photos View 16 Photos Image Credit: Brian Williams Spy Photos Chrysler Performance Sedan chrysler 300 srt8

Stellantis sees vehicle loan durations extended amid banking turmoil

Stellantis is seeing clients seeking longer-term financing and leasing deals for their vehicles as a consequence of higher global interest rates, the carmaker's head for the business said. Chief Affiliates Officer Philippe de Rovira said loans which normally had a three-year maturity were now increasingly moved to four years. "This allows customers to get a car for a monthly instalment that is similar to that they had before," he said. The world's third largest carmaker by sales on Tuesday announced it had completed a plan announced in late 2021 to reshuffle and simplify its leasing and financing operations in Europe. Under its terms, Stellantis created a 50-50 single long term multi-brand leasing company named Leasys with Credit Agricole Consumer Finance. It also set up local joint ventures in European countries for its new Stellantis Financial Services unit, formerly Banque PSA Finance, with BNP Paribas Personal Finance and Santander Consumer Finance. "These banks have always had better funding conditions than those we can have as an automaker," de Rovira said. Benefits of the plan included cutting the number of financing and leasing entities the group runs in each country and the number of IT systems it uses, with expected savings exceeding 30% in this particular area, he added. De Rovira said the group had a huge portfolio of orders it had not yet delivered due to supply chain shortages impacting production. "Demand is not our main issue. The issue is to deliver as fast as we can cars that are in our order portfolio, which is still at record levels," he said. The group aims to expand its corporate leased vehicle fleet to more than one million units in 2026 and to double net income from its so-called banking activities to 5.8 billion euros ($6.3 billion) by 2030. De Rovira said Stellantis was not seeing a downward trend in vehicle pricing. "Probably the significant price increases we have seen in 2021 and 2022 will not be repeated because the context is changing, but for the moment we don't see decreases, we see stabilisation". ($1 = 0.9188 euros) (Reporting by Giulio Piovaccari and Gilles Guillaume; Editing by Jan Harvey) Earnings/Financials Plants/Manufacturing Alfa Romeo Chrysler Dodge Jeep RAM